Should We Really Cap Executive Salaries at Bailed-Out Companies?
Mongoose,
MIke T: I will point out that there is such a thing as a body of laws starting with the Bill of rights. This is not a Republic, it is a Constitutional Republic.
I will point out that the Bill of Rights has no bearing here as none of its stipulations are being violated. Furthermore, it is ludicrous to get upset about these compensation caps when the very idea of a bailout itself is unconstitutional. Nothing in the Constitution authorizes the federal government to own shares in any business venture, to subsidize one, etc.
Government is NOT the shareholder under this arrangement, you are wrong.
Oh really? From Forbes magazine:
NEW YORK (Reuters) – The U.S. government may want to consider converting the preferred shares it has bought in troubled banks into common stock to boost capital levels at no initial cost to Uncle Sam.
Are you saying that Forbes too is lying about the federal government buying shares in these banks?
